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Stock impact report

Kraft Mac & Cheese and Heinz Ketchup are sticking together after all [CNN]

The Kraft Heinz Company (KHC) 
Last the kraft heinz company earnings: 4/30 07:05 am Check Earnings Report
US:NASDAQ Investor Relations: ir.kraftheinzcompany.com/overview
Company Research Source: CNN
The food giant that owns Kraft, Heinz, Oscar Meyer and Philadelphia cream cheese said last year that it was splitting its business in two. The company's sales had slumped for years, and a breakup would have separated its growing condiment lines from struggling grocery brands like Kraft Singles and Lunchables. But the brands' sales have deteriorated further since the split was announced, making a spinoff less appealing to investors. New Kraft Heinz CEO Steve Cahillane, who took over at the beginning of the year after running Kellogg, hit pause on the breakup Wednesday and announced a turnaround plan. “Consumer sentiment has worsened, industry trends have softened, and there is increasing volatility in the geopolitical landscape. These shifts make the path to recovery steeper,” Cahillane said in a statement. Cahillane said the company will invest $600 million on marketing, sales and research and development to improve business. Once the company is growing again, it will be in a “ Show less Read more
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